Nov 9 (Reuters) - IGM Financial IGM.TO, one of Canada’s largest mutual fund companies, said on Thursday its quarterly earnings rose sharply along with revenue and investment income.
The Winnipeg, Manitoba-based asset manager said net profit was C$244 million ($239 million), or 94 Canadian cents a share, in the third quarter, up 40 percent from C$173.4 million, or 66 cents a share, in the year-before period.
The jump in profit came as revenues from management fees, administration fees, distribution fees and net investment income rose. Total revenue was C$674.191 million, up from C$632.533 million in the year-before quarter.
Operating earnings at IGM, a division of the Montreal-based Desmarais family’s Power Corp (POW.TO) empire, were C$213 million, or 82 Canadian cents a share, up from C$181.1 million, or 69 Canadian cents, in the third quarter of last year.
$1=$1.02 Canadian Reporting by Pav Jordan; editing by Peter Galloway